The Cabinet of Ministers of Ukraine has amended the Basic Conditions for the Implementation of State External Borrowing in 2022 by attracting a loan from Canada.
This was reported by the press service of the Ministry of Finance of Ukraine.
The draft resolution was developed by the Ministry of Finance for the possibility of increasing the amount of preferential credit by CAD 0.45 billion (equivalent to USD 0.351 billion) within the framework of the loan agreement between Ukraine and Canada, as a result of which the loan amount will amount to CAD 1.45 billion (equivalent to USD 1.131 billion).
The funds will be sent to the state budget to finance priority expenditures, in particular, to ensure priority social and humanitarian payments.
Recall that on June 17, the state budget of Ukraine received from Canada CAD 1 billion (equivalent to USD 0.773 billion) of credit on preferential terms. These are the first funds that Ukraine received through the administrative account mechanism of the International Monetary Fund.
The term of repayment of the loan is 10 years, the interest rate is 1.69% per annum. For additional loan tranches, the specified conditions are retained.
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